Castor Maritime Inc. (NASDAQ:CTRM) Sees Large Increase in Short Interest

Castor Maritime Inc. (NASDAQ:CTRM) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 6,556 shares, an increase of 80.5% from the September 30th total of 3,632 shares. Based on an average daily volume of 48,228 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Castor Maritime from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Castor Maritime Trading Down 6.5%

CTRM stock traded down $0.10 during trading on Friday, hitting $1.45. The company had a trading volume of 68,690 shares, compared to its average volume of 44,174. Castor Maritime has a 52-week low of $1.42 and a 52-week high of $2.66. The company has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.06. The firm has a market capitalization of $14.01 million, a P/E ratio of 0.90 and a beta of 1.30. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.09.

Castor Maritime (NASDAQ:CTRM) last issued its earnings results on Monday, September 14th. The company reported $0.31 EPS for the quarter. The business had revenue of $25.57 million for the quarter. Castor Maritime had a net margin of 109.09% and a return on equity of 4.69%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Castor Maritime stock. NewEdge Advisors LLC acquired a new stake in Castor Maritime Inc. (NASDAQ:CTRM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,912 shares of the company’s stock, valued at approximately $46,000. NewEdge Advisors LLC owned 0.23% of Castor Maritime as of its most recent filing with the Securities and Exchange Commission (SEC). 1.08% of the stock is currently owned by institutional investors and hedge funds.

Castor Maritime Company Profile

Castor Maritime Inc is a shipping company that owns and operates vessels used to transport commodities and other cargo by sea. Its activities have primarily focused on the dry bulk sector, serving international trade in goods such as iron ore, coal, grain and other bulk materials.

The company has historically expanded and adjusted its fleet through vessel acquisitions, sales and chartering arrangements. Castor has also participated in the transportation of crude oil, refined petroleum products and containerized cargo through tanker and containership assets.